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MTM
Great post.
Gold futures pushing ahead at $1765 now.
Upwards move back towards $2000 cannot be ruled out which should coincide nicely to a flurry of Assay results from Bibemi diamond drill holes.
Many companies got only one deposit to advance. Here at ORR we got Cameroon which looks pretty good to me and could indeed turn out to be Massive. Then we got Senala which is pretty good, smaller in size compared to Cameroon land package. Bit frustrating that on previous 2 occasions we could not close at or above 1p but that could all change soon in my view. ORR is now firmly on people's watchlist ready to come in.
Coming weeks could be very rewarding which is why most of us staying put. ORR is already derisked in my books with multiple deposits they are advancing in different countries.
GGP was going nowhere until HAVIERON came in.
ORR Mcap is crazy low...hopefully not for too long.
Minesinthemine - A well stated and thought thru post. I agree with everything you've said and would add , from a technical analyst's perspective, that we are trading just above the support level (0.82) and have not breached it since the badly handled Senala air core drilling results came out on the 11th March. This 0.82 level has held up and, if it was going to crumble it would have by now. Ergo, we sit on the bottom waiting for news which, although nerve-grindingly passive for some of us used to making money rapidly, does add something different to the portfolio! I have placed a buy order in the market for just over £2000 @0.84 let's see if it's taken up!! (buying at the bottom is rarely a wrong move in my view - we'll see!).
Thanks for that contribution. Just a quick reflection from me. Yes, it's risky but TL's investment indicates he's seen something he likes. The upcoming assays for holes with visible gold mineralisation should, imo, be positive. My question is: what kind of g/t figure could we get where the gold is visible? 5? 10? More? The areas of visible gold seem around the same size as coins. Obviously the core is not flat so it's hard to guess but does anyone have any figures they are looking for? Would be interesting to hear opinions on this. Thanks and gla.
Good essay . Top marks
No Assay’s but here’s an Essay for the morning :)
We had a big rise in the New Year with xxxm volume on consecutive days, but didn't have results to sustain the rise and the company issued an RNS.
LTHs (inc. me) that bought or added into the rise may currently be sitting on a loss, some big. As snippets of positivity come in like visible gold in Lawa, or TL's buy we see a small rise and increase in volume, but then settle back again. However if you look at the previous two years range of ~ .4p , the progress, a clear AND funded 2021 plan, you can see that sentiment and potential is getting recognised and I'd hope we've found a new support level waiting for news. (I am not a chartist).
But for any investors who think this is a golden ticket, ORR is still a risk. As we quantify the potential resources and with each piece of positive news, in my mind it becomes increasingly de-risked. By how much? Nobody knows, I personally look around other similar companies and see no reason this cannot be a £150m+ company, but we need confirmation of quality and size of resource. That is my opinion, not a valuation, not (yet) based on facts and is also obvious; Resource = Value.
So basically it is currently unknown where with good news(or bad) the SP will re-rate and how quickly, and what/if any money calls will be made from any rise to support further investment and drilling in 2022 for the other 5 licenses we picked up in Cameroon. These offer even more potential but require investment as they are in a more junior state than the Bakassi and Lawa. Though this is why I retain confidence in ORR as we have multiple opportunities.
I could have picked any number of gold prospecting companies that are in similar positions but I feel that first in Cameroon is unique and will give better chance for expedited growth than being one of a crowd. I could be wrong on all counts and lose everything, but that is my choice based on my research and hope in equal measure. I could also have waited for results before going in big, but with reduced risk comes reduced profit, and unlike a roulette this isn’t 100% a guess.
I don’t have fully rose tinted spectacles on though. I was really disappointed with the handling of news from Senegal and was openly critical of the board and communications/partnership with IAMGOLD. But already since then, I see increased news flow and positivity from them, the company hitting deadlines, keeping the market updated, so pleased with the response.
In summary, news is imminent. Good grades and who knows, bad grades and the inevitable SP impact, but all will not be lost as there are still results to come from Senala and the additional Cameroon licenses which for 2021 are still in their infancy, no doubt with another raise though we still have some warrant potential to help cover some of the future funding reqs.
For now though, my focus is on a Gold Pipe from hole #5 - Come on ORR!
On both previous RNS, we pushed higher above 1p each time but failed to close above 1p.
Got a feeling next time around we could firmly push higher staying above 1p this time and making new highs as we build on the regular drill results.
Observed recently during ongoing Drill operations at Bibemi looks really good.
I would expect Assay lab results to start coming through about now from first batch of Diamond drills.
Original strike length of 8.3km from North to South looks set to be extended further.
Second shear Zone intersection is indeed Awesome news. Widths starting to develop also as we go further into the diamond drill results.